5 New Year's Resolutions to Make as a North Shore Homebuyer

Have you sat down and made a list of your new year's resolutions yet? It's always a fun exercise to take stock of your goals for the year ahead and make a plan on how to achieve them. For many on Chicago's North Shore, you might find that they are personal or health related, but one of them might be buying a home!

There are dozens of steps to take to successfully become a homeowner in 2019 and as your local North Shore real estate expert, I am happy to help you make that a reality! Below are 5 new year's resolutions to make in order to buy a home in the new year:

Eliminate indulgences
It might not be your favorite path to homeownership, but cutting indulgences can be a quick and simple way to save for a down payment. For instance, could you stand to cut cable and instead use Netflix? Or on the same note, is there a streaming service you could cancel? You might want to cut dining out and your morning coffee runs, instead packing your lunch and brewing coffee at home. These little indulgences can mean big savings if they're avoided!

Start a home savings account
You can't save specifically for your home if you don't have anywhere for it to go! Open a savings account specifically for your new home. Get into the habit of making weekly or monthly deposits—whatever you can afford—and watch your down payment grow!

Do a mortgage test run
The only way to truly know if you can swing being a homeowner in Glencoe, Highland Park, Deerfield, Winnetka, Northbrook, Evanston, Lake Forest, Wilmette, and the surrounding areas, is to do a test run. Try saving like a homeowner—meaning you set aside your monthly housing expenses and an amount for your emergency fund—and see if you can live with your new budget. 10% of your mortgage payment is a good rule of thumb to account for maintenance fees, so start there.

Pay all bills on time
There is nothing that can raise a red flag quicker to a lender than unpaid bills. If you intend to get approved for a mortgage in 2019, it is best to make sure you pay all of your bills on time. Not only does this keep your credit score high, but it shows lenders you are capable of managing a monthly payment.

Visit open houses
This may seem counterintuitive if you're not yet ready to buy a home on the North Shore, but attending open houses allows you to see what properties are available in your price range. This gives you a more realistic approach to the market and could even motivate you to save more!

Ready to make your dream of owning a home a reality this year? Give me a call today!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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What Not to Do When Buying a North Shore Home

Buying a home on Chicago's North Shore can be an overwhelming decision, especially if it's your first time navigating the real estate market. And since this is likely the largest purchase you will ever make, it's important that you try to avoid the common mistakes that homebuyers have encountered before you. That's where I come in! I have included a list below of five things not to do when buying a home in Glencoe, Highland Park, Northbrook, Deerfield, and Winnetka, so you can enjoy a smooth process and settle into your new home with no worries!

Don't shop without an agent
Navigating the real estate market can be tricky, so why go it alone? Let me be your guide to homes for sale on the North Shore! You will want an agent who has your best interests in mind, who knows the in's and out's of the market, and has the knowledge of the industry to find you the best home, at the best possible price, in the most efficient amount of time. Buying a home can be a full-time job in itself if you consider all of the parties involved in the transaction, so it never hurts to leave it to the pros!

Don't ignore your budget
One of the worst things you can do when shopping for homes in Glencoe, Winnetka, Highland Park, Northbrook, or Deerfield is ignoring your budget and looking at homes you cannot afford. Not only does this waste your time and your agent's time, but it gives you unrealistic expectations. First you'll need to get pre-approved with a lender, then move on to your home search when you know exactly how much home you can afford. When you know what your budget is, stick to it! You won't be disappointed down the road.

Don't meet with just one lender
In order to get pre-approved for a home loan, you'll need to meet with a lender. You will provide documentation such as tax returns, income statements, and proof of funds for your downpayment before you go move forward with the buying process. While it may seem like a lot of work on your end to provide the necessary paperwork, in this case, it pays to meet with more than one lender. Gather at least three different quotes from lenders before you decide on the best loan for you.

Don't ignore closing costs
Did you know that the majority of homebuyers today aren't aware of closing costs? Now is the time to research how much you may owe at closing, which could be anywhere from one to seven percent of the purchase price of the home. You'll want to be aware of these additional costs or you could risk being blindsided before you can get your keys.

Don't make unreasonable lowball offers
Every North Shore homebuyer wants to get a great deal on a property, but that does not mean you should make the lowest offer possible. Not only will your offer likely be outbid by someone else, but the seller may not even counter yours back. According to real estate industry resource Inman, the third largest mistake people make when buying a home is offering too little for a property.

Give me a call today for a list of available homes in Glencoe, Winnetka, Highland Park, Northbrook, or Deerfield! I'm here to walk you through the entire buying process in 2019!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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How to Buy a North Shore Home Before the Holidays

Tis the season for holiday chaos— festive gatherings, tree trimming, traveling to visit with friends and family near and far. Probably the last thing on your mind this time of year is whether or not to buy a new North Shore home and settle in before the new year. But don't be so quick to write off the task! Buying a new home in Glencoe, Northbrook, Winnetka, Highland Park, or Deerfield is indeed possible— you just need an expert agent a handful of tips to get the job done!

Below are four tips to help you buy a North Shore home before the holidays:

Get pre-approved
You never want to begin your home search by touring homes that are outside of your budget. Instead, take the time to get pre-approved with a mortgage lender so you know exactly how much home you can afford, as well as whether or not you even qualify to make the purchase.

Find an expert agent
Your real estate agent should know the market well, as well as have a large network and know how to leverage technology to get the job done. For instance, when you have a specific timeline in mind to buy a home, your agent should know exactly which local professionals to bring in to complete the transaction, from the lender to the inspector.

Sort your documents
A successful homebuyer is an organized homebuyer! Keep all of your documents organized in a folder designated solely for your home purchase. Put together all of the documents you will need to buy a home— tax returns from the past two years, W2's or pay stubs, as well as two months worth of bank statements from all accounts. This will speed up the process when the documents are needed!

Keep everyone on track
If you're under contract to buy a home on Chicago's North Shore, you will want to stay on top of everyone to keep the transaction moving. When you work with the right real estate agent, they should play an important role in this as well. There is a lot of down time considering all of the parties involved in the transaction and it can be a while before someone gets the document they need or answers a question. If you haven't heard back in a timely manner, always check in!

We're wrapping up 2018, but that doesn't mean you have to wait any longer to buy a new home in Glencoe, Northbrook, Winnetka, Highland Park, or Deerfield! Give me a call today for more information about available properties and getting started on your home search or home sale!

I look foward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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4 Questions to Ask Your North Shore Home Inspector

In a past blog post, I've shared 4 Red Flags Your Home Inspection Could Miss and now it's on to another important inspection topic— questions to ask! Once you've gone over the report, you will likely have dozens of questions about the items listed which can leave you feeling uneasy about your future purchase. Be sure to note the four questions below to help you calm your homebuyer nerves after the inspection!

What is this item?
If you're unclear about an item listed in the inspection report, do not hesitate to ask your inspector! For instance, if there is a defect in the electrical system that you don't understand, ask exactly what needs to be fixed and how serious it is. You should never be afraid to ask for clarification about the items found in the report.

Is this serious?
When you look over the report, you will notice many minor issues, but not all will need to be addressed immediately. Ask your inspector if any major problems came up and what needs to be remedied now. You should be fully aware of the major issues before buying a North Shore home!

Should I make a follow-up?
Your Glencoe, Highland Park, Deerfield, Northbrook, and Winnetka inspector will be knowledgable, but he may also refer you to another expert like an electrician or plumber for a closer look at a problem. If he flags something in the report like this that needs further inspection, ask him if you need to make a follow-up with another expert.

What needs to be done after the purchase?
Remember that if you don't ask the seller to make certain repairs, they are now on your plate! Ask the inspector what needs to be fixed after you move-in, or in other words what you don't need to ask the seller for and what can wait. You will still want to stay on top of these repairs in case it will be something isn't functioning properly when you step in the door!

Ready to start the home buying process or have more questions for a real estate expert in Glencoe, Highland Park, Deerfield, Northbrook, or Winnetka? Give me a call today!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

4 Reasons to Buy a Home in Glencoe, Winnetka, or Northbrook IL This Fall

Fall is here and it's a great time to start fresh in a new North Shore home! While you may think summer is the busy season for real estate, that doesn't mean your time to buy ends with the closing of your local neighborhood pool. Now can be one of the best times of the year to buy a home and I'm sharing four reasons why below:

Mortgage rates will rise
Mortgage rates are still near record lows, but that won't be the case for too much longer! 30-year mortgage rates have increased half a percentage point this year and are expected to increase again over the next 12 months. By this time next year, rates are expected to be around 5.1%.

Home prices will rise
If you've been wondering where Glencoe, Winnetka, Highland Park, Northbrook, and Deerfield home prices will go over the next year, the answer is UP! According to CoreLogic's Home Price Insights report, home prices will continue to rise at a rate of 5% over the next year!

You're paying a mortgage either way
Think of it this way— regardless if you rent a home or buy, you're still paying a mortgage! If you buy a North Shore home, you're paying your own mortgage. If you rent, you're paying down your landlord's mortgage! New homeowners will have the benefit of building equity in their home which can help build your family's wealth, while renters will continue to help their landlord do the same.

Winter is coming
Real estate deals are indeed made no matter what season it is, but you will want to consider the upcoming Chicagoland winter weather and busy holiday season! Decide if you would prefer to take advantage of market conditions now while the temperatures are still favorable to move to a new home on Chicago's North Shore or move homes with snow and ice on the ground.

You could end up paying more for a mortgage in just a few months' time if you wait to buy, not to mention deal with the frigid weather! Contact me today to get started on your North Shore home search this fall!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

5 Real Estate Reality TV Myths— Debunked!

By now, you've likely seen a real estate reality TV show or two— you may even have a favorite that you watch constantly. But whether you've watched one episode or twelve, it's important to note that not everything you see on your screen is indeed reality. If you've found yourself wondering if these shows do indeed portray how the buying, selling, or renovation process goes, I've included a reality check for you below!

Myth: Buyers Only Choose from 3 Homes
In nearly every reality TV show based on homebuyers, there are typically three homes toured and then the buyer makes a decision. While there may be a small percentage of buyers that buy one of the first few homes they see, the National Association of Realtors says the average homebuyer tours at least 10 homes during their search.

Myth: The Show is in Real Time
It may seem unrealistic that the homebuyers can go through the entire buying process, from search to closing, within a 30-minute time slot and that's because, it is. Real estate reality shows often follow buyers who are farther along in the process and have already chosen a home to buy, in an attempt to speed up the process for viewers.

Myth: The Homes are Still For Sale
Maybe you've spotted a home on your favorite real estate show that fits the bill, but unfortunately many of the homes shown on TV have already been sold and are off the market. The properties are staged for TV for the "home search" phase.

Myth: Your Home Will Sell at the Open House
Many times homeowners on TV will hold an open house and then choose from the dozens of offers that result from the traffic. However, it's important to note that just as many homes sell from regular showings and your property may not hook a buyer from the first open house. This is just a small piece of the marketing puzzle of your property.

Myth: Removing a Wall is Easy
These days, every homeowner wants an "open concept" floor plan and thus, real estate reality shows often show demo teams knocking down walls to make it happen. In reality, removing walls may not always been in your budget or even possible for your specific home. If the wall is load-bearing, there is much more structural work that comes into play and that can be more costly than you think!

Give me a call today for more information about available properties on Chicago's North Shore or with any questions you have on buying or selling your home in Glencoe, Winnetka, Highland Park, Deerfield, or Northbrook.

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

4 Reasons North Shore Lenders Will Reject Your Mortgage Application

When you've found your dream home on Chicago's North Shore, the next step is meeting with your local lender to submit a mortgage application. Pending you've already been pre-approved, this next milestone in the homebuying process should be smooth sailing, but there are a few factors that can send you right to the rejection pile.

Below are four reasons why a North Shore lender might reject your mortgage application this year:

You've changed jobs
Lenders like to see two solid years of consistent employment before they will agree to approve a mortgage loan. And while you may not always be in charge of a career move—for instance, if you are laid off—it is best to wait until after your closing to change if you can.

You don't have enough credit
You may think credit cards are a no-go when it's time to buy a home and you are right— somewhat. Your credit score and history are major factors lenders will observe in their decision process, but a lack of credit can be just as troubling as poor credit. If you have yet to build a credit history, it is fine to carry some debt via credit cards, as long as you pay it off on time.

You have poor credit
Lenders will look at your credit score to confirm you are capable of managing debt and paying on time. However, if your credit score is low, not only will you not qualify for favorable loan programs with reasonable rates, you could risk being rejected altogether. Take the time to look into your credit score and clean it up before applying for a loan, if possible.

You opened a new line of credit
Just as I mentioned above, it's important to have credit established, but you'll want to avoid opening anything new while you're in the process of buying a home. This is a red flag to lenders who will want to see that you are responsible with your debt management and opening a new line of credit will both ding your credit and suggest that you might be more of a spender.

Ready to begin searching for your dream home in Winnetka, Highland Park, Deerfield, Glencoe, or Northbrook? Contact me today!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Common North Shore Homebuying Myths to Ignore

If you're on the fence about buying a home on Chicago's North Shore, you might be surprised to know that what's been holding you back is a complete myth! There are dozens of myths flying around the real estate market surrounding everything from necessary credit scores to the documents you need to qualify for a mortgage.

I'm debunking some of the most common North Shore homebuying myths below so you can buy a home with confidence this year!

Myth: You need a perfect credit score
Many would-be homebuyers are held back from the process simply because they don't think their credit score is high enough. According to real estate industry resource Keeping Current Matters, the average credit score of all approved loans in June 2018 was 726. Don't assume you won't be approved! Your first step should always be meeting with a lender to determine which home loan programs you qualify for on the North Shore.

Myth: You need 20 percent down
Another common myth in real estate is that you need 20 percent down to buy a home or the loan won't be approved. Think again! Many homebuyers today can purchase homes with as little as 3 percent down— even zero down depending on the type of loan! According to Keeping Current Matters, first-time homebuyers put down an average of 6 percent in June.

Myth: You should wait for interest rates to drop
By historical standards, today's interest rates are still incredibly low! Consider this— in the 1980's, interest rates were hovering around 12.7 percent; in the '90s, 8.12 percent! Locking in today's rate of 4.5 percent is still a smart decision if you're planning to buy a home!

Have more questions about buying a home in Northbrook, Highland Park, Glencoe, Deerfield, Winnetka or the surrounding areas? Give me a call today! As your local expert, I am happy to answer everything from first steps to financing to home closings!

Happy house hunting!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Home Staging vs. Hiding— How to Inspect Homes on Chicago's North Shore

It's easy to get distracted when shopping for homes on Chicago's North Shore. You may find yourself focused on the kitchen updates, the backyard, and of course, the neighborhood, but quickly overlook issues hiding in plain sight. North Shore home sellers may go so far as to hide certain problems with home staging—underneath large furniture or behind hanging pictures, for instance—and it's up to you to recognize them when you arrive for a showing.

As your North Shore real estate expert, I am here to help you make the best decisions when buying a home in Northbrook, Glencoe, Winnetka, Highland Park, Deerfield and the surrounding areas. Below are four signs a home seller could be hiding a problem area with staging:

Listing Language
Before you even arrive at the home, you can get an impression about what you might find just from the language used in the listing description. Keep an eye out for phrases like "quaint," "cozy," "low maintenance," or "fixer upper," as these can often mean small properties that need a great deal of work.

Rugs
Rugs can be a great addition when staging a home for sale on the North Shore, but as a buyer, don't always assume they're just for decoration. Rugs and runners can sometimes be hiding pet damage, warped floors, or larger structural damage. Walk over the rugs several times, paying attention to how the floor feels, if it creaks, cracks, or feels sloped. If so, you'll want to take a closer look before moving forward on the home.

Painted Floors
You love your own pets, but how many pet owners want to move into a property to deal with someone else's pet damage? Not many. If you find yourself in a North Shore home with painted floors or happen to pull up the carpet and notice spots that have been painted, the sellers may be trying to cover up pet damage or water spots.

Furniture Arrangement
If the furniture placement in the home feels off,  the seller could be covering up problems underneath or around the area. For instance, is there a large couch in the center of the room? Are there picture frames hung in odd places? Look underneath or around the couch, checking for floor damage, or behind picture frames for signs of water or cracking.

Ready to buy a home but don't know where to start? Found your dream home in Northbrook, Glencoe, Winnetka, Highland Park, or Deerfield? Give me a call today for more information about the buying process or to take those next steps toward becoming a homeowner!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

4 Real Estate Red Flags Your North Shore Home Inspection Could Miss

When shopping for homes on Chicago's North Shore, you'll likely be distracted by home features like updated kitchens, bathrooms, and even the size of the yard. You won't necessarily be looking for red flags like flaws in the roof or foundation and even when you get to the inspection, there is a chance the inspector could miss them too!

Below are four real estate red flags to spot when shopping for homes on the North Shore:

Structural Issues
Luckily, when it comes to roofing structure and foundation, an inspector does know how each should look and can point out when there might be a problem. However, when it comes to how bad the problem is or how much it will cost you, you will need to consult a structural engineer.

HVAC Problems
Your heating and air conditioning system may be working well on the day of the inspection and fail the day you move in— you just never know! The only way to know if there is a real problem with the system is to bring a proper HVAC specialist to the property who can assess any issues. However, it may ultimately be a gamble as to purchasing a new unit and hiring an HVAC contractor; the two can cost relatively similar amounts.

Electrical Disruptions
Depending on the age of the home, the inspector may find electrical wire and connections that have failed or will need to be replaced. They will point these out to you in their report, but they will not always know the source of the problem or how much it will cost to repair. You will need to bring in an electrician to find the answers.

Leaks
If a property's water has been turned off for some time, the leaks may have dried for now, but once the water is running, they will return. Remember that the inspection cannot possibly identify all problems if they are not present on the day of, so the only way to spot leaks prior to the sale is to check drains in spots like under cabinets.

As your North Shore real estate expert, it is up to me to help you find the best property and make the best decision for your real estate goals. Give me a call today for more information about homes for sale in Glencoe, Winnetka, Highland Park, Northbrook, Deerfield, or the surrounding areas!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

How to Compete with Cash Buyers on Chicago's North Shore

When you've found your dream home in Winnetka, Deerfield, Highland Park, Northbrook, Glencoe, or the surrounding areas, you are willing to do what it takes to make sure it becomes yours. The last thing you want is to be outbid (or in some cases, underbid) by another buyer who turns out to have all cash!

To compete with cash buyers in today's real estate market, you will need to have a certain edge and as your local North Shore real estate expert, I'm sharing five ways for you to stand out below:

Don't hide anything
Being upfront with your finances can help a seller feel more confident in choosing your offer. Allow your lender to release financial details like your income, bank statements, and credit report. Providing this information may prompt the seller to consider your offer just the same as a cash buyer.

Accelerate the loan
Cash transactions move quickly and for sellers, that is a major perk. When you use financing to purchase a North Shore home, the closing process is not as swift and therefore, your offer may not look as appealing. However, you can always ask how you can speed up the process. Depending on your lender, they may be able to turn around the loan in as little as 14 days, pending all documents are submitted efficiently and the appraiser is dispatched on time.

Bid higher
Cash buyers tend to offer a lower amount for a property simply because there are fewer hoops to jump through for the seller given there is no financing. If you don't want to lose the home, consider bidding higher. Offering more than you think the home is worth could put you ahead of the cash buyer and in the long run, it likely will not change your mortgage payment much.

Make yourself known
Oftentimes, sellers want to know who their house is going to and including a personal letter could be just what they need to accept your offer over a cash buyer. Make yourself known to the sellers, tell them who you are, what you love about the property, and what you plan to do with it. In today's market, it couldn't hurt!'

Move along the inspection
When a seller accepts your offer over a cash buyer, there is still one more potential hurdle aside from financing and that is the inspection. If you can conduct your inspection within days after your accepted offer, this assures the seller that they made the right decision and you can follow through with the sale.

Ready to start the search for your North Shore dream home or found what you're looking for and want to seal the deal? Give me a call today! I've helped numerous buyers become homeowners in in Winnetka, Deerfield, Highland Park, Northbrook, and Glencoe and I'd be happy to help you do the same!

Looking forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Why You Should Buy a Home in Winnetka, Glencoe, or Highland Park IL This Fall

Once the summer has come to a close, many residents on Chicago's North Shore think the home buying season has ended along with it. While it is true that the summer months bring a wave of activity for the local real estate market, it is not the only time to buy a home— fall can be just as lucrative for North Shore buyers!

Below are five reasons why you should consider buying a home in Deerfield, Evanston, Glencoe, Glenview, Highland Park, Kenilworth, Lake Bluff, Lake Forest, Lincolnshire, Lincolnwood, Northbrook, Northfields, Riverwoods, Skokie, Willamette or Winnetka:

You could find a deal
Many home sellers first list their properties in the spring, some much too high for the market. By the time fall arrives, there is a chance that there will be leftover inventory from these spring sellers and you could find a deal!

There are fewer buyers
Your competition in the fall is significantly less than you had during the summer months. In fact, many families with children have halted their home search due to the school year, or have already found a home.

Motivated sellers
Homes that are listed in the fall could signal a home seller that wants to move on before the start of the new year— and thus, do what it takes to sell the property. As the holidays get closer, you may find that homes still for sale are a great deal in the making! No homeowner wants to deal with trying to sell during the holidays.

Sellers want to close before the new year
As I said above, when you buy a home during the fall, you may encounter a motivated seller who wants to sell before the end of the year. You could negotiate a better offer during this time of year simply because of the tax advantage (or disadvantage) the seller will have if they close quickly enough.

Homes don't show as well
The fall colors are beautiful on Chicago's North Shore, but homes don't tend to sell as well as they do during the summer months. With the weather slightly cooler and the lush landscaping losing its glamour, buyers aren't as drawn to homes this time of year, thus reducing your competition. It's also a great opportunity for a home inspection as all of the home's flaws will be exposed.

As your local real estate expert in Winnetka, Glencoe, Highland Park, Northbrook and Deerfield IL, I will be your guide no matter the time of year! Contact me today for more information about available properties on the North Shore!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

5 Questions First-Time Buyers on Chicago's North Shore Should Ask Themselves

Buying a home for the first time on Chicago's North Shore is exciting, especially knowing you could be saving money when you're no longer renting. But before you jump into the local real estate market, there are a few questions you will need to ask yourself to be sure this is the right time for you to purchase a home in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook and the surrounding areas.

Did I just change jobs?
If you've just experienced a job change, it could take longer to be approved for a mortgage through your local lender. Lenders typically like to see a solid employment history of at least two years and will want to see your tax returns and pay stubs as proof of income. But don't worry if you don't meet this requirement, it is not exactly a deal breaker! There are still ways to go about applying for a mortgage during a job transition, just speak to your lender.

Do I have a down payment?
Buying a home on Chicago's North Shore commonly entails putting 20 percent down. However, if you do not have this down payment ready and waiting, you can opt for a lower percentage. A lower down payment will require private mortgage insurance which will add to your overall monthly payment, but allows you to get around the standard 20 percent.

Am I ready for maintenance?
If you're purchase a single family home on the North Shore, maintenance will fall into your hands. Ask yourself if you're ready to take on yard upkeep and repairs like cleaning gutters or fixing leaky faucets. These often come with their own set of costs, so be prepared!

Am I familiar with closing costs?
Did you know most first-time buyers are not aware of closing costs? These include title, insurance, mortgage processing fees, and the like. Ask your lender what closing costs will run with your particular loan product to get an idea of how much you will be expected to pay at the closing table.

Is buying a better option than renting?
In today's market, buying a home is indeed a better investment than renting simply due to rising costs alone. But you will want to run the number to make sure your purchase will make sense in your overall payment. You can use a mortgage calculator to enter in expenses and come up with the number you could be paying each month. Doing the math is always wise before buying!

As your real estate agent on the North Shore, you can count on me to help you prepare to make a home purchase. Give me a call today for a list of available properties in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook and the surrounding areas!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Factors That Could Block Your Path to Homeownership on Chicago's North Shore

If you've been on the fence about buying a home on Chicago's North Shore, it is likely for a few reasons that many in Winnetka, Glencoe, Highland Park, Deerfield and Northbrook face. For instance, your misconceptions about what it takes to qualify for a mortgage. Don't let your pre-conceived notions about homeownership hold you back this year!

As your North Shore real estate expert, I have included four factors below that may be blocking your path to owning a home:

You don't think you'll qualify
Requirements for getting a mortgage are loosening somewhat and what may have been the standard years back is no longer the case. Don't quit before you even try! It is essential to meet with a lender in the area to discuss your eligibility for taking on a mortgage before you make the decision to wait to buy a home. You just may find that your dream home is within reach!

Student loans
For many on Chicago's North Shore, student loans are barring their ability to qualify for a mortgage loan due to high loan amounts. One tact you can take is to refinance your student loans into a more manageable position for you each month, meaning a lower interest rate and lower payments. Another option for buyers with student loans is to pay more each month to help reduce debt at a quicker pace.

Your credit score is in bad shape
Grooming your credit score can be relatively simple if you know your timeline for buying a home and work well in advance. The first step is to obtain a copy of your credit report from one of the major reporting bureaus and scan each line for any errors. These can take a toll on your score and can take months to fix! The next step is to identify high interest debt and pay that down first.

You don't have a 20% down payment
Gone are the days of the 20 percent down requirement or no deal. Homebuyers on Chicago's North Shore can now get a mortgage with as little as 3 to 5 percent down, depending on the type of loan product they choose. If you are worried that you cannot purchase a home due to the down payment factor, meet with your lender to find your other options.

Give me a call today for more information about buying a home on the North Shore! I have helped numerous buyers find their dream homes and I'm here to help you do the same!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

5 Things Not to Overlook in Homes on Chicago's North Shore

When shopping for a home on Chicago's North Shore, there will be many factors to consider, making it easy to overlook others. For instance, if you're concerned with the number of bedrooms, you may be quick to pass over how long your commute might be in this new location. As your local North Shore real estate expert, I have included below five factors not to overlook in homes in Northbrook, Glencoe, Winnetka, Deerfield, and Highland Park:

Your commute time
As I mentioned above, it is important to take into account how long it will take you to get to work each day from a new location. You may love the home itself, but if it's going to take you much longer to commute every day, you will want to weigh your options.

The neighborhood at different hours
Especially if you visit the home during the day, homebuyers can quickly overlook what the neighborhood might be like at night. Is it noisier once all of the neighbors are home from work and school? If you're strongly considering a home, be sure to visit at all hours.

Homeowners association
Some condos and homes on Chicago's North Shore are part of a homeowners association and are required to follow a set of rules regarding everything from landscaping to paint colors. Be sure to review the bylaws of the association if you find yourself interested in a property.

Resale value
You may not be bothered by a certain feature of a home on the North Shore, but that doesn't mean others won't be when the time comes to sell. It's always wise to be thinking one step ahead—in this case, to resale—as a buyer, especially if you plan to only be in the home for a short time.

Room to grow
From growing families to a growing need for storage, be sure not to overlook how much space the property has for your belongings. Think hard about what you might need in the future and if this home has the potential to accommodate or if you'd need to move again.

If you're shopping for a new home in Northbrook, Glencoe, Winnetka, Deerfield, Highland Park or the surrounding areas of the North Shore, give me a call today! I

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

What Not to Do When Buying a Home on Chicago's North Shore

Your real estate agent is indeed on your side to guide you through buying a home this summer, answering every question along the way. However, there are certain things buyers tend to do that can really throw a wrench in the process.

Don't: Change your mind over and over
Changing your mind help you at times— for instance, when you realize you'd be better suited for another home in Winnetka, Glencoe, Northbrook, Highland Park, or Deerfield, one with more square footage, in a different location, or with a different number of bedrooms. However, changing your mind so much that it's difficult to nail down what you're looking for in a property, or how much you'd like to spend, the answer could just be that you're not ready to make a move at this time.

Don't: Make lowball offers without reason
Everyone wants a good deal on a home on the North Shore, but that doesn't mean you can make low offers without justification. If you're offering considerably less than asking price because you want a bargain, chances are the offer is going to be rejected and you could risk insulting the sellers. You are more than welcome to offer below asking price, but keep your expectations grounded in reality.

Don't: Go overboard at showings
Showings are important to the buying process— after all, it's the time for you to get to know the property better. One thing buyers tend to do is show up with contractors, designers, friends and family, spending hours on end measuring rooms and critiquing every single feature. If you repeat this at every home without making an offer, it can be frustrating for your agent.

Contact me today for your next steps on buying a home on Chicago's North Shore! I've helped numerous buyers in Winnetka, Glencoe, Northbrook, Highland Park, Deerfield and the surrounding communities and I'm here to help you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

5 Questions to Ask North Shore Mortgage Lenders

Buying a home is undoubtedly one of the biggest purchases you will make in your lifetime. It's important to thoroughly research ahead of time, especially as you begin the mortgage process and working with a North Shore lender.

However, finding a lender you trust can be a process in itself, not to mention remembering to ask the proper questions. Below I've included five great questions to ask North Shore lenders this year as you prepare to buy a home in Winnetka, Glencoe, Highland Park, Northbrook, Deerfield or the surrounding areas.

1. Is now a good time for me to buy?
A lender will look at your financial situation and determine if now is the best time for you to buy a home.

2. Which debts should I pay down first? And how soon?
Taking into consideration your high-interest debts and loans, a lender will determine which will help get you a better interest rate and how soon you should begin paying them in order to secure one.

3. How much will I have to pay at closing?
Each loan comes with its own set of closing costs, so be sure to ask your lender about those that apply to yours.

4. How do I pay at closing?
Inquire about the method of payment for closing costs when the time comes.

5. Who services my home loan?
Mortgage loans are often serviced by third-party, so make it a priority to ask who will be overseeing yours.

Choosing a lender is one of the most important steps in the home buying process and these questions are just the beginning. Give me a call today for more information about homes available in Winnetka, Glencoe, Highland Park, Northbrook, Deerfield or the surrounding areas or with questions about getting started as a buyer.

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Real Estate Terms Every North Shore Buyer and Seller Should Know

No matter if you're buying a home or selling your property on Chicago's North Shore, you will undoubtedly run into a few real estate terms that you may not be familiar with. You could hear these used by your lender, your real estate agent or any of the parties involved in the real estate transaction.

But not to worry! As your local North Shore real estate expert, I'm happy to define a few of the essential terms you will hear throughout the process of buying and selling a home. Take a look through the glossary below and keep them in mind as you navigate the market:

APR
Stands for annual percentage rate and refers to the interest rate associated with your mortgage in Northbrook, Glencoe, Deerfield, Winnetka, Highland Park and the surrounding areas.

ARM
Stands for adjustable rate mortgage and refers to the type of loan whose rate changes after a specific amount of time or as market conditions change.

DTI
Stands for debt to income ratio and refers to the figure that many lenders will use to determine a buyer's eligibility for a mortgage. You can calculate your DTI by weighing all of your monthly debts, including credit cards and auto loans, against your monthly income.

PMI
Stands for private mortgage insurance. This applies to those North Shore buyers who put down less than 20 percent on a new home in Northbrook, Glencoe, Deerfield, Winnetka, and Highland Park.

HOA
Stands for homeowners' association. Homes and condominiums found within these communities typically have monthly dues or fees that cover maintenance, landscaping and snow removal.

Fixed Rate Mortgage
A fixed-rate mortgage unlike an adjustable rate mortgage that we discussed earlier has one rate that applies throughout the life of the loan. This type of mortgage does not have a rate that changes with market conditions.

Escrow
A third party is often involved in larger purchases to manage the funds associated with the transaction. Your money for a real estate purchase is held in an escrow account to show the seller that the funds are available.

Equity
If you're a homeowner on the North Shore, you've likely heard this term which refers to the amount of ownership you have in the property. You can find this figure by calculating what you owe on your mortgage and subtracting from its market value.

Appraisal
This is the process through which the value of your home is determined. Many lenders will want to know this figure before they determine how much to loan you via your mortgage to ensure the loan amount does not exceed the value.

Closing Costs
These costs include appraisal fees, real estate agent fees, loan origination fees, escrow fees, credit check fees and more. Typically paid by the buyer, a portion or all of the closing costs can sometimes be negotiated to be paid by the seller.

Have you heard other real estate terms that you're unsure about during your home buying or selling journey thus far? Want more information about the current real estate market on Chicago's North Shore? Give me a call today!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

4 Things to Expect From Your North Shore Chicago Real Estate Agent When Buying A Home

When buying a home on Chicago's North Shore, the last thing you should be worrying about is whether or not you chose the right real estate agent. After all, it is the agent's job to walk you through the process and put their expertise to work. But do you know what to really expect from your agent?

As your North Shore real estate expert, I'm sharing four things you can expect from your agent when buying a home in Northbrook, Glencoe, Deerfield, Winnetka, Highland Park and the surrounding areas:

They will make it as easy as possible
Buying a home in Northbrook, Glencoe, Deerfield, Winnetka, Highland Park can come with its fair share of obstacles, but it is your agent's duty to eliminate them for you! The right agent will know which challenges can arise at what time and will negotiate on your behalf to make the process run as smoothly as possible.

They will find you the right home
It is no secret that inventory is limited in today's real estate market. However, your real estate agent will take into account your needs and deciding factors for moving and use them to find the best property. If there is an issue that will bar you from achieving your homebuyer goals, your agent will talk it through with you and discuss next steps.

They will honor your timeline
Many homebuyers today have a timeline in which they'd like to purchase and settle into a new home on Chicago's North Shore. For instance, if you're shopping for a home now, maybe it's because you want to be moved before the holidays. Your agent cannot always control the date of your move or speed up the loan approval process, but they will do everything in their power to honor your wishes and make it happen if possible.

They will be honest about prices
When you make an offer on a home, it is your agent's responsibility to talk over how they plan to have that price accepted by both seller and bank. You should trust your agent enough to help you formulate the best offer up front, being honest about what price may or may not win in the end.

Have more questions about what a real estate agent can do for you or the current market? Give me a call today! I'm here to help!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States.